FedEx price target raised to $210 from $195 at Morgan Stanley

Morgan Stanley raised the firm’s price target on FedEx to $210 from $195 and keeps an Equal Weight rating on the shares. With a Q3 beat following a Q2 miss, the FedEx “earnings rollercoaster continues,” as will the debate on the stock, the analyst tells investors. Bulls will like that Express was better than feared and the $5B buyback, while bears will point to the continued revenue miss and potential earnings quality issues, says the analyst, who adds that this quarter reminds the firm of the Q1 FY24 result, when a 20% beat was muddled by “mixed messages” and an unraised fiscal year outlook. While the stock was up 6.5% in the days following that report, it dropped 15% in the following month, the firm reminds investors.